ICL To Acquire Bartek Ingredients In Two Phase Deal
(RTTNews) - ICL Group Ltd (ICL), a chemical and specialty mineral company, on Thursday announced that it has entered into a definitive agreement to acquire Bartek Ingredients Inc., for an initial cash investment of about $90 million.
The first phase, expected to close in the first quarter of 2026, involves the acquisition of around 50% of Bartek.
The deal will be completed in two phases. The timing and scale of the second phase, which will result in full ownership.
The acquisition expands the company's specialty food solutions portfolio and aligns with its strategy focused on specialty crop nutrition and specialty food solutions.
The company said that Bartek's portfolio strengthens its presence in functional food ingredients used to enhance flavor, extend shelf life, and improve product quality across food, beverage, and personal care applications.
Bartek Ingredients is a food-grade malic and fumaric acid supplier, supplying customers across food, beverage, confectionery, bakery, and other end markets.
The business generates approximately $65 million in annual revenue and is constructing a new production facility expected to be completed in 2026.
Upon completion, the facility is expected to significantly expand capacity and production volumes, supporting growth in the global functional food ingredients market, which is projected to exceed $45 billion in sales by 2030.
On Wednesday, the ICL Group closed at $4.8800, 0.0500 cents lesser on the New York Stock Exchange. In the after-market hours, the stock traded 0.09 cents higher before ending the trade at $4.9700.
